Potbelly sees FY23 SSS up 11.9%-12%

Sees systemwide sales up 12.5%-12.6%. Sees AUVs $1.29M-$1.3M. Bob Wright, President and Chief Executive Officer of Potbelly Corporation, commented, “Our preliminary fourth quarter results marked continued strong performance as our team executed on our Five-Pillar Strategy. On the top line, we grew same-store sales approximately 6%, driven mainly by traffic growth, and delivered average weekly sales above the high end of our previously stated guidance. Notably, we continued to grow traffic share within the fast casual industry during each period of the quarter. We are also pleased to have signed several additional development deals, bringing our total shop commitments to 192 shops, with more exciting deals in the pipeline. All in all, 2023 was an excellent year of progress at Potbelly and we are excited with what 2024 has in store for this unique brand.”